Fed official: Congress 'parasitic'

A top Federal Reserve official on Thursday called members of Congress “parasitic wastrels” who have failed to responsibly manage the country’s finances.

“Our Congress — past and present — has behaved disgracefully in discharging its fiscal duty,” Federal Reserve Bank of Dallas President Richard Fisher said in a speech at Stanford University, according to prepared remarks.

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“Its members have not shown themselves to be true born leaders. We all know it is far past due for our federal politicians — Democrats who may and Republicans who are distinguished only by that single difference — to begin acting like the responsible fiduciaries ’enjoy it more’ of the nation’s fiscal accounts they are supposed to be, rather than as the parasitic wastrels they have unwittingly let themselves become.”

Fisher, who unsuccessfully challenged retiring Sen. Kay Bailey Hutchison in 1994 as a Democrat, has been a frequent critic of both the Fed and Congress. In 2014, Fisher will get a seat on the Federal Reserve’s policy-making Federal Open Market Committee.

Readers' Comments (11)

Not really; since, Congress may be selfish, somewhat narcissistic but yet hostages to the real parasites of our "Usury-Swapmeet-Economic Model" whereby Hedging a bet against "We The People" gives them power as they pay almost nothing into our Treasury and expect us to nurture their favor with "Free-Market Gifts."

One of the few policy changes in Rep. Ron Paul's agenda is a "Real Examination of The FED"

IF

President Obama wants to enhance his already impressive 'Legacy'

THEN

he may give some thought to how we fund our many years as co-wastrels via Congress rather than setting a "Priority List via Legislation w/line-item veto power over quid pro quo items never debated in middle of night before Congressional Votes."

he may get a progressive tax code that is attached to specific spending (ie Infrastructure Trust Fund, Social Security Trust Fund = where is the Trust part?)

he may even get "Means-Testing of ALL Entitlements" and "Divorce the Lawyers from SSA-disability as he did w/Student Loans& Banks" and get a few "TORT-adjustments" to decrease the horrid wastrels in Doctor's Liability Insurance

OK, so I dream-forward to a "More Perfect Union" while my people perish for lack of knowledge (Hosea 4:6)

so what about Obama and his spending w/o limit .... why didn't even one Senator (not even a D) voted for his budget proposal. FAIRTAX even if it will be bad for the economy and for income .... LOL .... Mr. President what are you smoking. 4/16/2008 ABC’s Charlie Gibson GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down. So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected? OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness. http://www.youtube.com/watch?v...

He's right. For decades, the Congress has been ceding its policymaking authority to the executive branch. Congress doesn't even declare the wars anymore; they simply passed a permanent, one--fits-all declaration giving the president the authority to do it. Next we will see the executive branch levy taxes... by calling them "fines." Members of Congress don't do anything anymore except duck responsibility for their jobs.

This would all go away with one simple act. The House of Representatives, the Senate and the Executive branch should not be allowed to exempt themselves from bills passed and signed into law. They have no clue what it means to live under this oppressive government we have. They should fall under the same health laws that they have forced on us. They should pay into SS and that should be their only pension. They should have to live in Washington, D.C. if they are so anxious to go there and "represent" us. All cabinet secretaries should also live in D.C. unlike panetta. There should be an accounting of what the actual costs were for nancy pelosi and leon panetta to fly home every weekend. Why does congress only "work" three days a week but we still pay for full time work from them? Why are Republicans blamed for obstructionism when demcrat leaders will only vote for their own bills without considering Republican ideas? Our country will be broken until D.C. is fixed.

The "Parasite" is the illegal fraud known as the Federal Reserve Bank which is not Federal, has no reserves and is not a bank.

The Federal Reserve Act was an act of war against the citizens of the United states by the BANKSTER Regime in the city of London who own our central bank.

Get rid of the Fed, defund the illegal banks, get rid of fractional reserve (boom/bust) banking, create the real Fed which is based on US Government Script just like the colonists used DEBT FREE currency/script to Regulate trade by providing liquidity and not allowing pump and dump Federal Reserve and ILLEGAL PRIVATE CENTRAL Bankster's INTEREST.

It is the fraud of debt by PRIVATE BANKSTERS that has the world in a death grip and it is time to wage war on the REAL PARASITES, THE INTERNATIONAL FRAUD KNOWN AS PRIVATE CENTRAL BANKS!